Nouns Governance Participation
Introduction
Nouns is a generative NFT project on the ETH blockchain that mints/auctions one Noun a day. Nouns are 32x32 pixel images of people, places and things.
Each (forever) day, one Noun is minted and sold in a trustlessly auction. The Nouns DAO treasury receives 100% ETH proceeds from daily noun auctions.
Each Noun have the ability to propose and vote, and he can vote:
- FOR
- AGAINST
- ABSTAIN
and the decision on each proposal is based on majority vote.
Method
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for total minted nouns, I just count the NFT transfers for nouns with this conditions
NFT_FROM_ADDRESS = '0x0000000000000000000000000000000000000000'
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for ETH balances of NounsDao I used flipside_prod_db.ethereum.erc20_balances table for current date
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for average price of the last 30 days, I used ethereum.core.ez_nft_sales
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for getting all the data that belong to the proposals, I used ethereum.core.fact_event_logs table with this origin_to_address
'0x6f3e6272a167e8accb32072d08e0957f9c79223d',
'0x2573c60a6d127755aa2dc85e342f7da2378a0cc5',
'0xae7f458667f1b30746354abc3157907d9f6fd15e',
'0x37b8e20646d174b00198b7e183dd1f25520c0f60',
'0xcc2688350d29623e2a0844cc8885f9050f0f6ed5',
'0xf6c625851d48fe26b50d96b821a87efc7e35c222'
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For votes data, I used the Event_inputs column in ethereum.core.fact_event_logs with these conditions
where ORIGIN_TO_ADDRESS='0x6f3e6272a167e8accb32072d08e0957f9c79223d' and ORIGIN_FUNCTION_SIGNATURE in ('0x56781388','0x7b3c71d3')
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also, I calculated total minted token until each data and base on that I created participant parameter which is equal to :
participant = total votes / the total minted nouns until date of proposals
Conclusion
- the proposals with ID number 82 has the highest vote number and the highest participant belong to proposals with ID number 22
- the total count of votes is relative to the tokens that minted until date of proposal
- the Participation has not a clear correlation with minted tokens and depend on other things such as what the proposals wanted to change